Income 100k for 35 year old is working poor

[Anonymous]

Anonymous wrote:$500 for your phone!!?

NO,


$100 for Dominion Power, $100 phone, $100 student loan , $129 FIOS TV, $44 for FIOS Internet. about $500

[Anonymous]

Anonymous wrote:

Anonymous wrote:Your problem is that you pay $500 a month for your cel phone.

People seriously can't read, it's obvious OP means $500 after paying for subscriptions, Internet, TV, Student loans, VA Dominion Power and Cell Phone is $500. That may or may not be high or not depending on the student loan. Internet $40, say $40 for subscriptions/TV, $90 for electric, $50 for cell phone and a $280 student loan bill.

I agree with others that the credit card spending could be cut by at least $500. I also think the car insurance is really high. I think we pay like $900 a year and OP is paying $2,160.

That’s an odd list of things to clump together, though. Internet, electric, and cell phone? Sure, you can budget all that under utilities. TV is more in the entertainment category imo, as probably are “subscriptions.” And student loans should really be their own category. But I’m curious about those subscriptions—what are they for? Streaming services? Apps? Games?

Also, is that credit card payment the result of credit card debt, or is OP just charging things to the card and paying it off each month? If the former, that debt needs to be paid off. If the latter, then “credit cards” isn’t really a category; it’s just a method of payment. OP should probably figure out how much they’re spending on groceries vs. eating out vs. Door Dash each month.

It’s true that $100k is hardly rich in the DC area. But it’s a damn far cry from “working poor.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I believe he means that "Internet, TV, Student loans, VA Dominon Power, Cell Phone" are $500/monthly total, and that he uses his credit card to pay for "FOOD, GAS, Metro, Drinks, going out, Door Dash" which totals $2K/month.

What's not clear is whether he's using the credit card to get points or some other rebate, etc and paying it off each month, or if those are actually costs he's carrying month to month on his credit card.

Is that a correct interpretation, OP?

Pretty sure the credit card is for gas, groceries, entertainment etc. Not carrying cost on a balance. I pay for everything by credit to to get the points and pay off the balance every month. I also pay my utilities and phone bills by credit. As a single I easily spend 2,000 a month on the card just for everyday living.

Assuming that , $2K does not include rent/mortgage, that's great for you, but you are a rich spender. It's certainly not essential to having a rewarding middle class life as a single.

This is the poster you're responding to. Out of the 2k a month on credit card this is how it breaks down, typically:

800ish for groceries etc
300 for gas / commuting costs / parking on the days I go into the office
170 for internet + phone
100 for utilities, higher in winter, lower in summer, so 100 is average
100 for pet expenditures, either pet food or a once / twice yearly pet vet visit averaged out
100 a month for social F&B, the rare lunch out with a friend, a takeway one night because I've been busy/tired, a drink at a happy hour after work once in a blue moon. I rarely eat out specifically to save money.
70 for gym membership

That's up to about 1650. But there's always something else every month, like this month is a plumber's bill. Next month is installing a new kitchen fan to replace the one that broke. Little things that come up and which can't be planned for but still happen.

You seem pretty clueless if you think this is "rich spending."

[Anonymous]

Plenty of people manage on way less. And many people can't decipher between NEEDs and WANTS. You don't need door dash or a $350/m car payment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I believe he means that "Internet, TV, Student loans, VA Dominon Power, Cell Phone" are $500/monthly total, and that he uses his credit card to pay for "FOOD, GAS, Metro, Drinks, going out, Door Dash" which totals $2K/month.

What's not clear is whether he's using the credit card to get points or some other rebate, etc and paying it off each month, or if those are actually costs he's carrying month to month on his credit card.

Is that a correct interpretation, OP?

Pretty sure the credit card is for gas, groceries, entertainment etc. Not carrying cost on a balance. I pay for everything by credit to to get the points and pay off the balance every month. I also pay my utilities and phone bills by credit. As a single I easily spend 2,000 a month on the card just for everyday living.

Assuming that , $2K does not include rent/mortgage, that's great for you, but you are a rich spender. It's certainly not essential to having a rewarding middle class life as a single.

This is the poster you're responding to. Out of the 2k a month on credit card this is how it breaks down, typically:

800ish for groceries etc
300 for gas / commuting costs / parking on the days I go into the office
170 for internet + phone
100 for utilities, higher in winter, lower in summer, so 100 is average
100 for pet expenditures, either pet food or a once / twice yearly pet vet visit averaged out
100 a month for social F&B, the rare lunch out with a friend, a takeway one night because I've been busy/tired, a drink at a happy hour after work once in a blue moon. I rarely eat out specifically to save money.
70 for gym membership

That's up to about 1650. But there's always something else every month, like this month is a plumber's bill. Next month is installing a new kitchen fan to replace the one that broke. Little things that come up and which can't be planned for but still happen.

You seem pretty clueless if you think this is "rich spending."

These are all related to property ownership, which doesn’t apply to OP. Although I take the point that car maintenance/registration, etc. does.

[Anonymous]

You saved 10% in your 401k and 4k after-tax. Do you have a company match?

Can you earn more? Get a side gig?

[Anonymous]

I just searched FB Marketplace and the first place under rentals was a $730 room to rent in a townhouse in Clarendon. Add in around $100ish for utilities and you’ve cut your housing bill by more than half.

[Anonymous]

Anonymous wrote:Plenty of people manage on way less. And many people can't decipher between NEEDs and WANTS. You don't need door dash or a $350/m car payment.

+1000 This post is so tone deaf. If you think you're "working poor" at that salary you live with a scarcity mindset, and probably overspend as a result.

I didn't go to a school that would put me in debt. I didn't do the study abroad program I wanted because I couldn't afford it. I didn't have a car or TV before I was married, and then we shared ONE car for years, even after we had our first kid. We'd plan how to commute to work and drop one off at bus/metro. We didn't have cable and rarely went out as newlyweds. I've never had a pet. We didn't have furniture for years after buying a house. We bought less house than we could afford. And on.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I believe he means that "Internet, TV, Student loans, VA Dominon Power, Cell Phone" are $500/monthly total, and that he uses his credit card to pay for "FOOD, GAS, Metro, Drinks, going out, Door Dash" which totals $2K/month.

What's not clear is whether he's using the credit card to get points or some other rebate, etc and paying it off each month, or if those are actually costs he's carrying month to month on his credit card.

Is that a correct interpretation, OP?

Pretty sure the credit card is for gas, groceries, entertainment etc. Not carrying cost on a balance. I pay for everything by credit to to get the points and pay off the balance every month. I also pay my utilities and phone bills by credit. As a single I easily spend 2,000 a month on the card just for everyday living.

Assuming that , $2K does not include rent/mortgage, that's great for you, but you are a rich spender. It's certainly not essential to having a rewarding middle class life as a single.

This is the poster you're responding to. Out of the 2k a month on credit card this is how it breaks down, typically:

800ish for groceries etc
300 for gas / commuting costs / parking on the days I go into the office
170 for internet + phone
100 for utilities, higher in winter, lower in summer, so 100 is average
100 for pet expenditures, either pet food or a once / twice yearly pet vet visit averaged out
100 a month for social F&B, the rare lunch out with a friend, a takeway one night because I've been busy/tired, a drink at a happy hour after work once in a blue moon. I rarely eat out specifically to save money.
70 for gym membership

That's up to about 1650. But there's always something else every month, like this month is a plumber's bill. Next month is installing a new kitchen fan to replace the one that broke. Little things that come up and which can't be planned for but still happen.

You seem pretty clueless if you think this is "rich spending."

Needs to organize the budget. Can't have $500 for VA power, cell phone, student loans, etc in one category and then say it's also part of the $2k CC bill.

800 for one person seems high for groceries.

Also, why are you paying for "new kitchen fan" if you rent? that is on the landlord

If you are OP, you first need to buckle down and get rid of your student loans. You are 35 without kids. Focus on getting out of debt and then saving what you paid for loans.

[Anonymous]

Anonymous wrote:I just searched FB Marketplace and the first place under rentals was a $730 room to rent in a townhouse in Clarendon. Add in around $100ish for utilities and you’ve cut your housing bill by more than half.

Most 35 yo do not really want to live with roommates, especially ones they don't know. But I do agree, they could have easily done this earlier and saved a ton and could be a homeowner already

[Anonymous]

Anonymous wrote:

Anonymous wrote:I just searched FB Marketplace and the first place under rentals was a $730 room to rent in a townhouse in Clarendon. Add in around $100ish for utilities and you’ve cut your housing bill by more than half.

Most 35 yo do not really want to live with roommates, especially ones they don't know. But I do agree,
they could have easily done this earlier and saved a ton and could be a homeowner already

Too bad. So sad. The OP claims she is poor but is living like she is rich. It’s not about what she wants, it’s about what she needs to do.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I believe he means that "Internet, TV, Student loans, VA Dominon Power, Cell Phone" are $500/monthly total, and that he uses his credit card to pay for "FOOD, GAS, Metro, Drinks, going out, Door Dash" which totals $2K/month.

What's not clear is whether he's using the credit card to get points or some other rebate, etc and paying it off each month, or if those are actually costs he's carrying month to month on his credit card.

Is that a correct interpretation, OP?

Pretty sure the credit card is for gas, groceries, entertainment etc. Not carrying cost on a balance. I pay for everything by credit to to get the points and pay off the balance every month. I also pay my utilities and phone bills by credit. As a single I easily spend 2,000 a month on the card just for everyday living.

Assuming that , $2K does not include rent/mortgage, that's great for you, but you are a rich spender. It's certainly not essential to having a rewarding middle class life as a single.

This is the poster you're responding to. Out of the 2k a month on credit card this is how it breaks down, typically:

800ish for groceries etc
300 for gas / commuting costs / parking on the days I go into the office
170 for internet + phone
100 for utilities, higher in winter, lower in summer, so 100 is average
100 for pet expenditures, either pet food or a once / twice yearly pet vet visit averaged out
100 a month for social F&B, the rare lunch out with a friend, a takeway one night because I've been busy/tired, a drink at a happy hour after work once in a blue moon. I rarely eat out specifically to save money.
70 for gym membership

That's up to about 1650. But there's always something else every month, like this month is a plumber's bill. Next month is installing a new kitchen fan to replace the one that broke. Little things that come up and which can't be planned for but still happen.

You seem pretty clueless if you think this is "rich spending."

$800 on groceries for one person a month? Stop going to Whole Paycheck? Also yes, obviously if OP is renting they are doing home maintenance. The OP and you both seem pretty clueless about what working poor means.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$500 for your phone!!?

NO,


$100 for Dominion Power, $100 phone, $100 student loan , $129 FIOS TV, $44 for FIOS Internet. about $500

NP and I would drop the FIOS TV and get either netflix + HBO on demand for less than half the price. I think the phone cost is high too, I would get Mint mobile (runs on T-Mobile) and I think that is like $20 per month.

[Anonymous]

Sounds like you need a roommate

[Anonymous]

I rounded your take home to $5400. Here's what you are going to do:
Get a studio with all utilities included. Found one in lovely area and building in NWDC for under $1500 all utilities included. I'm sure there's one in VA cheaper than that.
Phone.internet, Netflix can be had for
$100 a month.
Get rid of the car and invest the money.
$200 for commuting now that the car is gone.
Our lovely building has a gym, pool, and trails - all free.
$100 student loans.
$500 for groceries which is generous for one person.
All else:going out, eating out,clothes, toiletry,haircuts-,$600.
You would have $2400 left every month.
You had no business getting a pet. Pet is a luxury.
Also, don't save, you invest. Stock market was up last year, a lot. The $400 a month you saved, should be $6600 right now.
All stocks I have doubled this year alone. You are clearly not in the market so you don't know what's happening. I'm not convinced not knowing/being in it is a plus. I learned a lot even when I lost some.
Can you see that you concentrate on things that take money instead of things that make money. You chose it and I don't know why. You are not getting younger.
You are getting a second job in a restaurants at nights from 5/6-10pm or two brunches. The second job gives you extra $1000 a month at minimum. They also feed you and keep you from spending money because you are too busy working two jobs.
You are going to invest in S and P ETF long term and learn to manage your own money.
There is so much money to be made while you are talking about the credit card points you get. Did you know that some utilities charge you for using credit card for payment. More than the 2% you get back.
You didn't tell us if yours do or don't. Look them up, please.
I have made over $40k twice in my life. I never had the luxury to upgrade my life. I had to learn to make my money work for me. I don't have to work anymore at the age of 46. Being working poor making $100k is a choice.